Richmond Hill restaurant has $1.5 million hopes

Richmond Hill restaurant has $1.5 million hopes
Richmond Hill restaurant has $1.5 million hopes

A fully leased retail investment property in Richmond is set to go under the hammer with expectations of around $1.5 million.

The 160 square metre, Commercial 1 zoned site at 142 Bridge Road is currently a restaurant with function area on the first floor.

Teska Carson’s Tom Maule said the property will be sold subject to a three year lease to Chuck Taylor’s Pty Ltd, trading as Mister Jennings, at a current income of $72,100 per annum from June 2014 with two further terms of four years and 3% annual rental reviews with a market review at the option. 

The property will be auctioned on Friday, August 21 at 1 pm on site.

 

Tags: 
Investment Property

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